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705 GENESEE

PROJECT OVERVIEW

TRANSFORMING DOWNTOWN DELAFIELD

Once a tired gas station, 705 Genesee is ready to transform into a true live, work and play destination. Situated on a prime corner in downtown Delafield, the one-acre site will consist of two four-story buildings containing retail, residential, office and a food hall.

The $25 million project includes 125 combined surface and underground parking stalls to service office users and public, an 8,000-sq.-ft. food hall, 12,000 sq. ft. of additional retail and restaurant space, and 54,000 sq. ft. of office space.

2

BUILDINGS

4

STORIES

125

PARKING STALLS

18,000

SQ FT OF RETAIL / FOOD HALL SPACE

54,000

SQ FEET OFFICE SPACE

FLOOR PLANS

 

IMPACT ON DELAFIELD

The proposed development at 705 Genesee will fill a void in downtown Delafield by providing much-needed office space, residential units and retail/restaurant space. In addition, the project will be a boon for the local economy. Based on data from the U.S. BEA, it is estimated that the project will produce 290 construction jobs and another 625 jobs will be supported once the development is up and running. 

Developing the vacant site at 705 Genesee will also have a positive fiscal impact on the city. As the property sits, the land is assessed at $800,000 and generates property taxes of $12,000 annually. With the proposed development budget of $25 million, the site would generate property taxes of $385,000, an increase of $373,000 in property taxes annually. 

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ECONOMIC IMPACT

Construction Phase

$47 million total output

$14 million total earnings

290 jobs total employment

Business Operations Phase 

$72 million total output

$25.5 million total earnings

625 jobs total employment

*Economic impact estimated using Three Rivers Model and most recent data from the U.S. Bureau of Economic Analysis' RIMS II database for the Milwaukee-Waukesha MSA.

PROPERTY TAX IMPACT

Existing Vacant Site 

$802,500  assessed property value

$12,281  property taxes

Proposed Project

$25 million  assessed property value

$384,687  property taxes

Incremental

$24,197,500  assessed property value

$372,336  property taxes

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CONTACT US

FOR LEASING OPPORTUNITIES, PLEASE CONTACT US BY USING THE FORM BELOW:

Henricks Commrcial Properties

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